09 May 2026

The Prayagraj Development Authority (PDA) has relaxed its housing policy to allow more than one member from the same family to purchase flats in its residential schemes. The move aims to address demand challenges and changing family needs, especially among joint families seeking separate units. It is also expected to help clear unsold inventory across categories like EWS, LIG and MIG. The decision forms part of a broader push by the authority to improve housing uptake, simplify allotment rules and make its schemes more practical for buyers.Read more

08 May 2026

The Haryana government has approved key changes to its land pooling policy, enabling large-scale urban expansion across approximately 1.67 lakh acres in the state. The revised framework, cleared in the past week, aims to address land availability constraints for public projects by adopting a participation-based model involving landowners. The first phase targets around 40,000 acres across 13 districts, including Gurugram, Faridabad and Panchkula. The policy allows landowners to pool land for integrated development, receiving a share of developed plots while the remaining land is utilised for infrastructure and urban sectors. The initiative is expected to facilitate planned development of residential, commercial, and industrial zones while improving infrastructure provisioning.Read more

08 May 2026

The Reserve Bank of India has issued draft guidelines outlining conditions under which banks and non-banking financial companies may acquire immovable assets as part of loan recovery. The proposal applies to exceptional cases where loans turn non-performing and other recovery avenues are exhausted. The draft introduces the concept of specified non-financial assets, covering collateral properties taken over in settlement of dues, and prescribes a maximum holding period of seven years for disposal. It also restricts resale of such assets to borrowers or related parties to address moral hazard concerns. The central bank has invited public comments on the framework, which aims to standardise practices and improve transparency in recovery processes.Read more

08 May 2026

Bombay High Court has ruled that authorities cannot insist on obtaining a no-objection certificate (NOC) from defence establishments at a belated stage after construction has substantially progressed under approved plans. The court directed authorities to issue an occupancy certificate for two residential buildings near INS Trata in Worli, Mumbai, while holding that the late insistence on a defence NOC was arbitrary and legally unsustainable. The ruling came in response to a petition filed by Techno Freshworld LLP against stop-work notices and denial of occupancy certification by MHADA. The judgment is expected to have implications for redevelopment and real estate projects located near defence establishments, particularly in dense urban areas such as Mumbai.Read more

08 May 2026

The Supreme Court of India has sought responses from the Centre and the Securities and Exchange Board of India (SEBI) regarding the handling of unclaimed deposits and investor assets. The matter relates to concerns over the treatment of funds and investments left behind by deceased individuals, including issues of legal heirs’ access and regulatory oversight. The court is examining whether existing mechanisms adequately safeguard such assets and ensure timely transfer to rightful claimants. The development highlights gaps in financial asset recovery processes and may have implications for investor protection frameworks and regulatory clarity.Read more

08 May 2026

The Union Ministry of Environment, Forest and Climate Change has approved the Goa government’s proposal to classify 6.72 crore sq m of land along the Mandovi and Zuari riverbanks as an eco-sensitive zone. The designated area, spanning approximately 6,729 hectares, is intended to restrict further development and protect the region’s fragile river ecosystems. The proposal, submitted by the state Forest Department, follows concerns over unregulated construction along key waterways. State authorities have already directed planning agencies to halt new development within the identified stretch. The move is expected to influence land-use regulations and development activity in several river-adjacent areas across Goa.Read more

08 May 2026

The Union Cabinet has approved the development of a ship repair facility at Vadinar, Gujarat, with an investment of INR 1,570 crore. The project will be jointly executed by Deendayal Port Authority and Cochin Shipyard Limited as a brownfield development featuring a 650-metre jetty, floating dry docks and marine workshops. The facility is intended to address gaps in India’s capacity to repair large vessels exceeding 230 metres, enabling servicing of ships up to 300 metres. Located near key ports such as Mundra and Kandla, the project is expected to support maritime infrastructure, reduce reliance on overseas shipyards and generate direct and indirect employment in the region.Read more

Gurugram News Desk

08 May 2026

Authorities in Gurugram have issued around 2,000 notices to property owners for illegal constructions in stilt parking areas across residential buildings. The enforcement action, taken in the past week, targets unauthorised enclosures, commercial use, and structural alterations in spaces designated for parking under approved building plans. The move follows inspections carried out by the district administration and municipal authorities amid rising complaints and safety concerns. Officials have directed property owners to remove violations within a stipulated timeframe, failing which demolition and further legal action may follow. The crackdown reflects increased scrutiny of compliance with building norms in high-density urban areas.Read more

08 May 2026

National Company Law Appellate Tribunal has dismissed petitions filed by Vedanta Ltd challenging the approval of Adani Enterprises Ltd’s resolution plan for debt-laden Jaiprakash Associates Ltd. The ruling upholds an earlier decision by the National Company Law Tribunal, affirming the lenders’ selection of Adani’s bid under the insolvency process. The appellate tribunal found no merit in Vedanta’s objections, despite the latter offering a higher financial bid. The decision reinforces the primacy of the Committee of Creditors’ commercial judgement in insolvency cases and clears the way for Adani Group to proceed with the acquisition of JAL’s assets, estimated at over INR 14,500 crore.Read more

08 May 2026

The Karnataka government has brought over 25 lakh properties in Bengaluru under the e-Khata system, marking a large-scale digitisation of urban property records. Announced in the past week by Deputy Chief Minister D K Shivakumar, the initiative integrates Aadhaar, GPS mapping, property sketches and digital documentation to create a unified ownership database. More than 7,000 applications have already been processed, with additional outreach measures planned through camps and service centres. The move aims to improve transparency, reduce discrepancies in land records, and streamline property transactions, while supporting compliance across the city’s expanding real estate market.Read more